Altice poised to offload Portuguese fibre networks

5 Feb 2019

Debt-wracked multi-country telecoms group Altice Europe is preparing to sell a stake in its Portuguese fibre-to-the-home (FTTH) network business, sources familiar with the matter have informed Reuters, with an auction process expected to get underway later this month. The Netherlands-based group has hired Lazard to sound out potential bidders for the assets – which are currently owned by Altice subsidiary PT Portugal (MEO) – including the likes of US funds KKR and Morgan Stanley Infrastructure Partners, the sources added.

Altice is looking to replicate its November 2018 agreement to sell a 49.99% stake in French fibre-optic business SFR FTTH to the investment funds Allianz Capital Partners, AXA Investment Managers-Real Assets and OMERS Infrastructure for EUR1.8 billion (USD2.1 billion).

In a previous debt-cutting measure, June 2018 saw Altice sell a 75% stake in a newly-formed Portuguese towers business, called Towers of Portugal (TOP), to Morgan Stanley Infrastructure Partners and Horizon Equity Partners.